JMP Securities Reiterates “Buy” Rating for Syndax Pharmaceuticals Inc. (SNDX)
Syndax Pharmaceuticals Inc. (NASDAQ:SNDX)‘s stock had its “buy” rating reissued by research analysts at JMP Securities in a note issued to investors on Wednesday.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Guggenheim initiated coverage on Syndax Pharmaceuticals in a research report on Friday, October 7th. They issued a “buy” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $25.80.
Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) opened at 10.25 on Wednesday. Syndax Pharmaceuticals has a one year low of $8.97 and a one year high of $18.03. The firm’s market cap is $182.27 million. The firm has a 50-day moving average price of $13.46 and a 200 day moving average price of $13.19.
Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Tuesday, August 9th. The company reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.07. On average, analysts forecast that Syndax Pharmaceuticals will post ($3.35) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in Syndax Pharmaceuticals during the first quarter valued at about $17,557,000. BlackRock Advisors LLC increased its stake in shares of Syndax Pharmaceuticals by 232.7% in the second quarter. BlackRock Advisors LLC now owns 1,026,902 shares of the company’s stock valued at $10,115,000 after buying an additional 718,209 shares during the period. Cormorant Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals during the first quarter valued at $2,856,000. BlackRock Group LTD bought a new stake in shares of Syndax Pharmaceuticals during the first quarter valued at $2,379,000. Finally, Vanguard Group Inc. bought a new stake in shares of Syndax Pharmaceuticals during the second quarter valued at $1,674,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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